Bill Few Associates Inc. Acquires 165 Shares of Starbucks Corporation $SBUX

Bill Few Associates Inc. raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 21,610 shares of the coffee company’s stock after buying an additional 165 shares during the period. Bill Few Associates Inc.’s holdings in Starbucks were worth $1,980,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. PUREfi Wealth LLC bought a new position in Starbucks during the second quarter valued at approximately $286,000. Narwhal Capital Management grew its position in Starbucks by 39.6% during the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after acquiring an additional 9,282 shares during the last quarter. Napa Wealth Management bought a new position in Starbucks during the first quarter valued at approximately $1,435,000. Personal CFO Solutions LLC grew its position in Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after acquiring an additional 5,151 shares during the last quarter. Finally, First Manhattan CO. LLC. grew its holdings in shares of Starbucks by 33.1% in the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock worth $43,777,000 after purchasing an additional 111,015 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 1.7%

Shares of SBUX stock opened at $78.46 on Monday. The stock has a fifty day moving average of $86.48 and a 200 day moving average of $87.87. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The firm has a market capitalization of $89.19 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 3.89 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s payout ratio is 105.17%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Cowen restated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Morgan Stanley restated an “overweight” rating and issued a $103.00 target price (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Citigroup upgraded shares of Starbucks from a “neutral” rating to a “mixed” rating in a report on Thursday. Guggenheim raised their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Bank of America raised their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.56.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.